IDFC First Bank, a private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, reported on Saturday that its June quarter standalone net profit fell 11% year-on-year (YoY) to ₹680.65 crore.
The private lender said in a stock exchange filing that its net interest income (NII) during the June quarter rose 25.4% to ₹4,695 crore, while interest income jumped 28% to ₹8,789 crore.
During the quarter, Gross Non-Performing Assets (GNPA) recorded a drop of 1.9%, while, the net NPA rose by 1 bps to 0.59% YOY.
The company reported a 25.5% increase in pre-provisioning operating profit to ₹1,882 crore as against ₹1,500 crore in the year-ago period.
